Descon

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Descon Engineering
Company typePublic
PSX: DOL
ISINPK0132801017
Industryconglomerate
FoundedDecember 15, 1977; 46 years ago (1977-12-15)
FounderAbdul Razak Dawood
HeadquartersLahore, Pakistan
Area served
Worldwide
Key people
RevenueIncrease US$28 billion (2023)
Decrease US$7 billion (2023)
Decrease US$4.9 billion (2023)
Total assetsDecrease US$22 billion (2023)
Total equityDecrease US$14 billion (2023)
Number of employees
22,000 (2023)
SubsidiariesDescon Engineering Limited
Websitedescon.com

Descon Engineering (Descon) (Urdu: ڈیسکون انجینئرنگ) is a Pakistani conglomerate headquartered in Lahore.

This company was first established in 1977, now it has been grown into a diversified group. Today, the company operates as a group in a range of sectors, including engineering, power, and chemicals. The company was founded on 15th of December, 1977. It operates in the engineering, power and chemical sectors.[1] Descon is the only Pakistani engineering company to be included in the Engineering News-Record (a US magazine) list since 2007.

Descon's global presence extends beyond its Pakistani headquarters. The company has established a strong presence in several countries across the Middle East and South Asia, including the United Arab Emirates, Qatar, Saudi Arabia, and South Africa and now it's new ventures are executed in Kuwait, Iraq and Egypt. This international expansion demonstrates Descon's commitment to serving a global clientele and its ability to navigate diverse cultural and economic environments.

Descon's workforce is a testament to its commitment to inclusivity and its global reach. With over 22,000 employees representing over 29 nationalities, the company fosters a dynamic and multicultural work environment. This diversity of talent and expertise is a significant asset, allowing Descon to approach projects with a comprehensive understanding and cater to the specific needs of its international clients.

In conclusion, Descon Engineering stands as a leading force in Pakistan's engineering and construction sector. Its unwavering commitment to quality, diversification, and global expansion has positioned the company for continued success. As Descon embarks on its next chapter, it remains a vital contributor to Pakistan's economic development and a prominent player in the international engineering and construction landscape.

History[edit]

The company was founded by Abdul Razak Dawood as Design Engineering and Construction Services (Descon) in 1977. The initial capital used for starting this startup was Rs. 3.2 million. [2] From this, they expanded into three sectors and now they are operating in UAE, Qatar, Saudi Arabia, Kuwait, Oman, Iraq and South Africa.[2]

The company got its first contract when Attock Refinery asked to set up a small refinery in 1978.[2] In 1981, they got a bigger four-year project of National Refinery which helped the company to expand.[2]

In 1982, they tried to expand to regional markets, where they helped a Saudi company and afterwards got a small project in Abu Dhabi. By 2018, this company was generating 60% of its income from overseas markets which helped the company grow to be a billion-dollar company.[2][3]

In 2018, Descon expanded its footprint into South Africa by acquiring 26% of Plant Design and Project Services (PDPS), an engineering firm Descon Engineering's journey, spanning over four decades, is a compelling narrative of steady growth and strategic evolution. Founded in 1977, the company began as a modest design and construction services provider in Lahore, Pakistan. Driven by a vision to deliver high-quality engineering solutions, Descon quickly established a reputation for excellence.

Leadership[edit]

Taimur Saeed was appointed as the second President & CEO of the Descon Engineering since 2021 and the previous CEOs of Descon Engineering include:

  • Abdul Razak Dawood

Descon Engineering's Board of Directors includes five non-executive directors and one independent director. The Board has the collective responsibility for ensuring that company's matters are managed competently and with integrity. Taimur Dawood has been the Descon Engineering Chairman since 2018.

See also[edit]

References[edit]

  1. ^ "Descon kicks off 40th anniversary celebrations". The News International (newspaper). 15 November 2017. Retrieved 11 December 2019.
  2. ^ a b c d e Shahram Haq (25 December 2017). "Descon plans to venture into South Africa market – The Express Tribune". Retrieved 11 December 2019.
  3. ^ Nasir Jamal (8 January 2018). "Descon head wants a level playing field under CPEC (China-Pakistan Economic Corridor)". Dawn (newspaper). Retrieved 11 December 2019.
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